Green Energy & Stronger Ties On The Forefront Of Brazil President’s Saudi Tour

Brazilian President Luiz Inacio Lula da Silva’s focus on strengthening relations with Saudi Arabia and attracting its participation in green energy projects remained prominent at the time of his Riyadh visit on Nov 28 – 29 with a delegation of ministers and businesspeople.

Following an event on Wednesday, Lula invited Saudi Arabia to be “Brazil’s partners” in the energy transition that has been taking place in the South American nation. Last year, renewable sources took care of almost half of Brazilian energy requirements.

Solar and wind power have been responsible for 90% of the expansion in energy production in 2023. Lula said in his speech: “If Saudi Arabia is the most important country in the production of oil and gas, in 10 years from now Brazil will be called ‘the Saudi Arabia of green energy’.”

Renewables Making Up A Major Part Of Brazil’s Production

Majorly in Brazil’s northeast, where most solar and wind plants have been implemented lately, there is still room for new projects. Renewables make up a major part of the country’s total energy production, but there is room for improvements, said Jose Roberto Simoes Moreira.

The engineering professor who coordinates the University of Sao Paulo’s renewable energy programme, highlighted the pressing need to invest in the expansion in renewable energy and the expansion of energy distribution infrastructure, according to Arab News.

On the trip, Brazil’s Mining and Energy Minister Alexandre Silveira presented an overview of the country’s energy endeavours and initiatives in which Saudi Arabia can take part. On Tuesday, he met with Saudi Energy Minister Abdulaziz bin Salman and signed a key MoU.

Key MoUs Signed, Major Infrastructure Projects Discussed

The Memorandum of Understanding is aimed at improving ties between the two nations and encompasses projects in different fields, including electricity, oil and gas, petrochemicals, renewable energy, energy efficiency, hydrogen and the circular carbon economy.

During former Brazilian President Jair Bolsonaro’s tenure, Saudi Arabia had announced in 2019 a plan to invest $10 billion from its sovereign fund in Brazilian projects. Many of them are expected to be related to green energy and infrastructure.

Read More: COP28-Where Climate Change Stories Emerge! Begins in Dubai.

Besides energy, other MoUs were also signed between a leading aircraft manufacturer in Brazil, Embraer, and the Saudi government, Saudi Arabian Military Industries and Saudi airline Flynas. Additionally, the Brazilian delegation also discussed infrastructure projects on the trip.